State Street Co. (NYSE:STT) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lessened its position in shares of State Street Co. (NYSE:STT) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,814 shares of the asset manager’s stock after selling 1,220 shares during the period. Desjardins Global Asset Management Inc.’s holdings in State Street were worth $1,225,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in State Street by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after buying an additional 146,048 shares during the last quarter. Invesco Ltd. lifted its holdings in State Street by 0.3% during the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after buying an additional 29,190 shares during the last quarter. Morgan Stanley lifted its holdings in State Street by 31.1% during the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after buying an additional 1,430,237 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in State Street by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock worth $373,551,000 after buying an additional 469,309 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in State Street by 4.1% during the 3rd quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after buying an additional 180,093 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Down 2.5 %

Shares of State Street stock opened at $73.02 on Wednesday. The business’s fifty day moving average price is $73.98 and its two-hundred day moving average price is $72.36. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market capitalization of $22.05 billion, a P/E ratio of 13.67, a PEG ratio of 1.40 and a beta of 1.52. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90.

State Street (NYSE:STT) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 EPS. As a group, research analysts forecast that State Street Co. will post 7.87 EPS for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Wall Street Analyst Weigh In

A number of research firms have commented on STT. The Goldman Sachs Group raised State Street from a “neutral” rating to a “buy” rating and increased their target price for the stock from $69.00 to $92.00 in a report on Wednesday, January 3rd. Bank of America reissued an “underperform” rating and issued a $81.00 price target on shares of State Street in a report on Thursday, January 4th. Royal Bank of Canada raised their price target on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Morgan Stanley raised their price target on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Keefe, Bruyette & Woods cut their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.04.

Insider Activity

In other news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,864 shares of company stock worth $1,390,597. 0.25% of the stock is owned by company insiders.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.